How to manage fixed and variable costs?

Expert Solution

Answer: managing fixed and variable cost in a business to produce this type of analysis use your forecasting tools and project the average revenue value for each additional customer together with their Direct cost to produce margin. Multiply the margin by the number of sales forecast at various points to see the volume required to cover your fixed costs.

jeff jeffy answered 2 years ago

What is the difference between fixed costs and variable costs?’ Are there fixed costs in the...

What is the difference between fixed costs and variable costs?’ Are there fixed costs in the long run? Explain briefly. Are fixed costs also sunk costs? Explain. What are diminishing marginal returns as they relate to costs? Which costs are measured on a per-unit basis: fixed costs, average cost, the average variable cost, variable costs, and marginal cost? How is each of the following calculated: marginal cost, average total cost, average variable cost? What shapes would you generally expect each...

Variable, Fixed, and Mixed Costs Classify the following costs of activity inputs as variable, fixed, or...

Variable, Fixed, and Mixed Costs Classify the following costs of activity inputs as variable, fixed, or mixed. Identify the activity and the associated activity driver that allow you to define the cost behavior. For example, assume that the resource input is “cloth in a shirt." The activity would be "sewing shirts," the cost behavior "variable," and the activity driver "units produced." Prepare your answers in the following format: Activity Cost Behavior Activity Driver a. Flu vaccine Assembling Delivering orders Filing...

Tech Com's. predicted 2017 variable and fixed costs are as follows: Variable costs Fixed costs Manufacturing...

Tech Com's. predicted 2017 variable and fixed costs are as follows: Variable costs Fixed costs Manufacturing 480,000 315900 Selling and Administrative 216,000 60500 Total 696,000 376,400 Tech com. produces a wide variety of computer interface devices. Per unit manufacturing cost information about one of these products, a high-capacity flash drive is as follows: Direct material $10 Direct labor 9 Variable Manufacturing Overhead 7 Fixed Manufacturing Overhead 9 Total manufacturing costs $35 The following is the variable selling and administrative costs...

4. The Costs of Production. Explain how fixed costs, variable costs, and the total costs affect...

4. The Costs of Production. Explain how fixed costs, variable costs, and the total costs affect people daily?

1.The different aspects of variable costs, fixed costs, and mixed costs. (Consider how they behave in...

1.The different aspects of variable costs, fixed costs, and mixed costs. (Consider how they behave in regards to both total costs and unit costs.) 2.Discuss their behavior in regards to the relevant range. Please write a paragraph for each so I can understand a little better.

Allocation: Fixed and Variable Costs, Budgeted Fixed and Variable Costs Biotechtron, Inc., has two research laboratories...

Allocation: Fixed and Variable Costs, Budgeted Fixed and Variable Costs Biotechtron, Inc., has two research laboratories in the Southwest, one in Yuma, Arizona, and the other in Bernalillo, New Mexico. The owner of Biotechtron centralized the legal services function in the Yuma office and had both laboratories send any legal questions or issues to the Yuma office. The legal services support center has budgeted fixed costs of $175,000 per year and a budgeted variable rate of $66 per hour of...

definition for “Variable Costs”, “Fixed Costs”, mention and explain “Two Subcategories of Variable Costs”, and mention...

definition for “Variable Costs”, “Fixed Costs”, mention and explain “Two Subcategories of Variable Costs”, and mention some examples of “Fixed Costs”

Why and how can companies reduce their fixed costs or switch them to variable costs? Explain...

Why and how can companies reduce their fixed costs or switch them to variable costs? Explain the advantages and disadvantages of high-fixed and low-fixed costs.

Hanley's Carwash has $80,000 of fixed costs and variable costs of 60% of sales. How much...

Hanley's Carwash has $80,000 of fixed costs and variable costs of 60% of sales. How much is total sales to achieve a net income of $140,000? A) $550,000 B) $220,000 C) $150,000. D) $366,667

Within the relevant range, the difference between variable costs and fixed costs is: (2) a. variable...

Within the relevant range, the difference between variable costs and fixed costs is: (2) a. variable costs per unit fluctuate and fixed costs per unit remain constant . b. both total variable costs and total fixed costs are constant. c. both total variable costs and total fixed costs fluctuate. d. variable costs per unit are constant and fixed costs per unit fluctuate.

Question